Repurchase
Agreements
Each
of
the
Funds
may
enter
into
repurchase
agreements.
Repurchase
agreements
are
primarily
used
by
the
Funds
as
short-term
investments
for
cash
positions.
Under
a
repurchase
agreement,
a
Fund
purchases
one
or
more
debt
securities
and
simultaneously
agrees
to
sell
those
securities
back
to
the
seller
at
a
mutually
agreed-upon
future
price
and
date,
normally
one
day
or
a
few
days
later.
The
resale
price
is
greater
than
the
purchase
price,
reflecting
an
agreed-upon
market
interest
rate
during
the
purchaser’s
holding
period.
While
the
maturities
of
the
underlying
securities
in
repurchase
transactions
may
be
more
than
one
year,
the
term
of
each
repurchase
agreement
will
always
be
less
than
one
year.
The
Funds
follow
certain
procedures
designed
to
minimize
the
risks
inherent
in
such
agreements.
These
procedures
include
effecting
repurchase
transactions
generally
with
major
global
financial
institutions
whose
creditworthiness
is
monitored
by
the
Advisor.
In
addition,
the
value
of
the
collateral
underlying
the
repurchase
agreement
is
required
to
be
at
least
equal
to
the
repurchase
price,
including
any
accrued
interest
income
earned
on
the
repurchase
agreement.
The
Funds
may
invest
in
repurchase
agreements
through
joint
account
arrangements;
in
such
cases,
each
Fund
holds
a
pro
rata
share
of
the
collateral
and
interest
income
based
upon
the
dollar
amount
of
the
repurchase
agreements
entered
into
by
each
Fund.
The
collateral
underlying
the
repurchase
agreement
is
held
by
the
Fund’s
custodian.
A
repurchase
agreement
is
subject
to
the
risk
that
the
counterparty
to
the
repurchase
agreement
that
sells
the
securities
may
default
on
its
obligation
to
repurchase
them.
In
this
circumstance,
a
Fund
may
lose
money
because
it
may
not
be
able
to
sell
the
securities
at
the
agreed
upon
time
and
price,
the
securities
may
lose
value
before
they
can
be
sold,
the
selling
institution
may
declare
bankruptcy
or
the
Fund
may
have
difficulty
exercising
rights
to
the
collateral.
During
periods
of
high
demand
for
repurchase
agreements,
the
Funds
may
be
unable
to
invest
available
cash
in
these
instruments
to
the
extent
desired
by
the
Advisor. Repurchase
agreements
usually
are
for
short
periods,
such
as
one
week
or
less,
but
may
be
longer.
It
is
the
current
policy
of
each
Fund
not
to
invest
in
repurchase
agreements
that
do
not
mature
within
seven
days
if
any
such
investment,
together
with
any
other
illiquid
assets
held
by
the
Fund,
amounts
to
more
than
15%
of
the
Fund’s
total
net
assets.
The
investments
of
each
Fund
in
repurchase
agreements
at
times
may
be
substantial
when,
in
the
view
of
the
Advisor,
liquidity,
investment,
regulatory,
or
other
considerations
so
warrant.
On
August
31,
2026,
the
Funds
had
an
undivided interest
in
joint
repurchase
agreements
with
the
following
counterparties,
for
the
time
periods
and
rates
indicated.
Amounts
shown
in
the
table
below
represent
Principal
Amount,
Cost
and
Value
for
each
respective
repurchase
agreement.
Fund
Name
Bank
of
America
Securities,
Inc.,
3.66%,
dated
8/31/2026
due
9/1/2026
(a)
Barclays
Capital,
Inc.,
3.55%,
dated
8/31/2026
due
9/1/2026
(b)
BNP
Paribas
Securities
Corp.,
3.00%,
dated
8/31/2026
due
9/1/2026
(c)
BNP
Paribas
Securities
Corp.,
3.66%,
dated
8/31/2026
due
9/1/2026
(d)
CF
Secured
LLC,
3.65%,
dated
8/31/2026
due
9/1/2026
(e)
Total
Bitcoin
&
Ether
Equal
Weight
ETF
...............................
$
1,252,928
$
250,586
$
400,937
$
751,757
$
1,884,326
$
4,540,534
Bitcoin
&
Ether
Market
Cap
Weight
ETF
...........................
1,827,885
365,577
584,923
1,096,731
2,749,025
6,624,141
Bitcoin
ETF
...........................................
7,142,020
1,428,404
2,285,445
4,285,212
10,741,149
25,882,230
Ether
ETF
............................................
9,154,452
1,830,890
2,929,426
5,492,671
13,767,720
33,175,159
Short
Bitcoin
ETF
........................................
17,438,943
3,487,789
5,580,461
10,463,366
26,227,073
63,197,632
Short
Ether
ETF
........................................
1,864,217
372,843
596,550
1,118,530
2,803,666
6,755,806
Ultra
Bitcoin
ETF
........................................
5,431,327
1,086,265
1,738,025
3,258,796
8,168,373
19,682,786
Ultra
Ether
ETF
.........................................
11,192,577
2,238,515
3,581,625
6,715,546
16,832,930
40,561,193
UltraShort
Bitcoin
ETF
.....................................
9,155,768
1,831,154
2,929,845
5,493,461
13,769,698
33,179,926
UltraShort
Ether
ETF
......................................
3,443,630
688,726
1,101,961
2,066,178
5,179,003
12,479,498
$
67,903,747
$
13,580,749
$
21,729,198
$
40,742,248
$
102,122,963
$
246,078,905
Each
Repurchase
Agreement
was
fully
collateralized
by
U.S.
government
and/or
agency
securities
at
August
31,
2026
as
follows:
(a)
U.S.
Treasury
Bonds,
0%
to
2.38%,
due
2/15/2039
to
2/15/2056;
U.S.
Treasury
Notes,
1.13%
to
4.13%,
due
10/15/2030
to
11/30/2031,
which
had
an
aggregate
value
at
the
Trust
level
of
$510,000,002.
(b)
U.S.
Treasury
Notes,
3.88%,
due
8/15/2033,
which
had
an
aggregate
value
at
the
Trust
level
of
$102,000,042.
(c)
U.S.
Treasury
Bonds,
0%,
due
2/15/2027;
U.S.
Treasury
Notes,
1.63%
to
4.38%,
due
10/15/2027
to
8/31/2031,
which
had
an
aggregate
value
at
the
Trust
level
of
$163,200,021.
(d)
U.S.
Treasury
Bonds,
0%
to
3.38%,
due
1/15/2028
to
8/15/2054;
U.S.
Treasury
Notes,
0.13%
to
4.63%,
due
7/31/2027
to
1/15/2035,
which
had
an
aggregate
value
at
the
Trust
level
of
$306,000,052.
(e)
U.S.
Treasury
Bills,
0%,
due
9/1/2026
to
8/5/2027;
U.S.
Treasury
Bonds,
0%
to
6.25%,
due
9/30/2026
to
8/15/2056;
U.S.
Treasury
Notes,
0.13%
to
4.88%,
due
9/30/2026
to
7/15/2036,
which
had
an
aggregate
value
at
the
Trust
level
of
$767,085,905.